Expert: Chris Ebert - 6/2/2009

Question
Hello. I am gearing up to purchase my first home and ordered an online credit report to check my credit score. I was shocked to see a "charge off" in July 2007. I had a credit card with my bank, Bank of America, that expired and I did not renew it. It was removed from my online account and I no longer received statements, via e-mail or hard copies.

The first time I was made aware of the charge was a call from a 3rd party collections agency asking that I pay it in full, which I did promptly the same day. They noted on the phone that it was being 'sent to collections' in 2 days and I made it in just under the wire. Unfortunately I did not request documentation on this.

In addition, when I called to request info on the charge off, I was made aware that I have a current credit card that is open but with no balance I was not aware of, and does not show up on my online account. I asked that it be closed - at my request - and a letter from the bank documenting this.

I have requested statements for my 'charge-off account' for the few months before and after the charge off, as well as my checking account during the same time period. I plan on filing a formal dispute in an attempt to show that the charge off was a result form bank error. From what I've read I don't think I can get it completely moved from my account, but I would like to note that it was due to bank error. I confirmed with the banks online department that once an account is closed, it no long shows up on my online account. They don't, however, document when accounts were added/removed from my online account. Are there any other documents or another way I can get the bank to admit their error in writing? Do I stand a chance of getting anything removed or improved on my credit score?

Thanks so much for your help - I look forward to your response!

Answer
John,

This is a tough situation because it is going to be hard for BOA to admit to their mistake mainly because the customer service reps really do not have a mechanism to fix this for you.

In this situation the best results I have seen come from an executive carpet bomb.

See the following links to see how to do it:

http://consumerist.com/259713/how-to-launch-an-executive-email-carpet-bomb

http://consumerist.com/search/eecb%20boa/

I have done this many times and I have had about a 70% success rate with various companies.